Oil prices fell after Bloomberg reported that Iran had responded to US proposals for a potential peace agreement, easing some immediate concerns about escalation in the conflict.
The news triggered a pullback in crude prices in both London and New York, trimming earlier weekly gains as traders interpreted Iran’s reply as a possible sign of diplomatic movement, even though no details of the response were disclosed.
Broader market sentiment remains highly sensitive to US–Iran negotiations and related disruptions to oil flows, with prices still volatile due to ongoing geopolitical risks despite the latest dip.
